Balearic mortgages take 55.8% of buyers’ pay
Mallorca and the rest of Spain’s Balearic Islands: the average mortgage payment takes €1,342 a month, or 55.8% of a buyer’s salary, in the first half of 2026. Property comparison website iAhorro puts the average mortgage at €304,225. Both that amount and the monthly payment are the highest in Spain.
Across Spain, mortgage payments take an average of 34.3% of buyers’ pay. iAhorro says the growing, more expensive property market is adding to the strain on households with mortgages, alongside rising interest rates and longer repayment periods.
Fewer buyers are signing mortgage agreements in the Balearics. The 5,109 signed in the first half of 2026 are down 10.1% on the same period a year earlier. The amount lent for home purchases also falls by 0.7%, to more than €1,554 million from nearly €1,566 million in the first half of 2025. According to iAhorro, the Balearics are the only Spanish region where that amount has fallen.
Source: Europa Press / Mallorca.com